Mixed news on consumer credit delinquencies

Northwestern Financial Review, Oct 15-Oct 31, 2004

The number of people past due on their credit card bills edged up while delinquency rates for most consumer loans went clown in the second quarter, according the American Bankers Association. Based on the number of credit card accounts, 4.28 percent were overdue in the second quarter, compared to 4.21 percent in the first quarter.

Based on total dollars outstanding, bank card delinquencies decreased to 4.33 percent in the second quarter compared to 4.65 percent in the first quarter. ABAs composite ratio of closed-end installment loans 30 clays or more past due decreased to 1.80 percent from 1.86 percent of all accounts. The composite ratio tracks eight close-end consumer installment loans including personal, auto and home equity.